Company schemes can keep costs down by focusing on the default fund, the option that employees end up with (since they have difficulty making their own choice).

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While there is a default fund for those employees that are simply too busy or just prefer to go that route, everyone else must make an annual decision.

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If your employer signs you up to the Nest scheme (the government designed National Employment Savings Trust), then the default fund will be based on when you are expected to retire.

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